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Tuesday, August 11, 2015

G is For Google, That's Good Enough for Me

Wazzup Pilipinas!

It looks like somebody, or a very popular Internet corporation everyone knows, is about to take over all the letters of the Alphabet. Well, they are starting with the letter G, and who knows if it's the first one, but surely there are more to come.

The company that was founded in 1998 but went public in 2004 now has a new operating structure. The company that used to be called Google is going to become a new holding company called Alphabet.

"Alphabet is mostly a collection of companies. The largest of which, of course, is Google. This newer Google is a bit slimmed down, with the companies that are pretty far afield of our main Internet products contained in Alphabet instead."

"Alphabet will operate as the parent company for a number of smaller companies, including Google, which will continue to focus on Internet products. Android, YouTube, search and ads will remain part of Google Inc."

The corporate restructuring announcement came just this Monday where they announced the formation of an umbrella company called Alphabet and naming a new CEO to the core business of Google. Sundar Pichai, who has been with Google since 2004, is taking over as CEO of Google while Google co-founders Larry Page and Sergey Brin will run Alphabet - Page as CEO and Brin as President.

Pichai was most recently positioned as the senior vice president of product and has also been the most visible Google executive of late giving the keynote speech at Google's annual developers conference earlier this year.

According to the news reports, shareholders will get one Alphabet share for every Google share they previously owned.

Other departments spinning off into their own sub-companies including research focused Life Sciences (Google contact lenses), the Google X lab (driverless cars, Google Glass, drone delivery), and Calico (increasing longevity). Google Ventures and Google Capital will also become independent Alphabet companies.

The other executives in charge of Alphabet will be Executive Chairman Eric Schmidt, CFO Ruth Porat, and chief counsel David Drummond.

Alphabet will include the following entities:

"Google now includes the company's core businesses. Those businesses: "search, ads, maps, apps, YouTube and Android and the related technical infrastructure." The other businesses, "such as Calico, Nest, and Fiber, as well as its investing arms, such as Google Ventures and Google Capital, and incubator projects, such as Google X," which "will be managed separately from the Google business."

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